Quarry LP Invests $516,000 in State Street Co. (NYSE:STT)

Quarry LP bought a new stake in shares of State Street Co. (NYSE:STT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,260 shares of the asset manager's stock, valued at approximately $516,000.

Several other large investors have also bought and sold shares of the company. Albion Financial Group UT acquired a new stake in State Street in the 4th quarter valued at about $25,000. Y.D. More Investments Ltd raised its holdings in shares of State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock worth $36,000 after purchasing an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in State Street during the fourth quarter valued at approximately $42,000. Coppell Advisory Solutions LLC boosted its holdings in State Street by 2,942.9% during the fourth quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager's stock worth $42,000 after buying an additional 412 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its position in State Street by 187.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock worth $47,000 after buying an additional 311 shares during the last quarter. Institutional investors own 87.44% of the company's stock.

State Street Stock Down 0.3 %

State Street stock opened at $87.33 on Friday. The firm's 50 day moving average price is $87.81 and its two-hundred day moving average price is $93.67. The firm has a market cap of $25.20 billion, a PE ratio of 10.60, a P/E/G ratio of 1.11 and a beta of 1.42. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.98 by $0.06. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.30 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. During the same period in the prior year, the business posted $1.69 earnings per share. On average, research analysts predict that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Tuesday, April 1st. State Street's dividend payout ratio (DPR) is presently 34.12%.

Insider Activity

In related news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the sale, the executive vice president now owns 50,816 shares of the company's stock, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory L. Summe sold 10,815 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the sale, the director now owns 100,023 shares of the company's stock, valued at $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on STT shares. Evercore ISI cut their price objective on State Street from $109.00 to $106.00 and set an "outperform" rating for the company in a research report on Tuesday, April 1st. Citigroup reduced their target price on State Street from $105.00 to $100.00 and set a "neutral" rating for the company in a report on Monday, March 24th. The Goldman Sachs Group set a $98.00 price target on State Street and gave the stock a "buy" rating in a research note on Thursday, April 17th. Wells Fargo & Company reduced their price objective on shares of State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Finally, Truist Financial decreased their target price on shares of State Street from $89.00 to $85.00 and set a "hold" rating for the company in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $102.15.

State Street Profile

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.

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